2020 Market Summary

Monday, 7 December 2020

2020 Market Summary

Although the many hire industries have been able to stay operational within the last 12 months, all industries have faced difficulties in some way. Whilst construction was allowed to continue, due to new regulations, the workforce allowed on sites was slashed by 75%. The event sector was one industry which was a casualty of the pandemic. All events had to be cancelled, which meant the businesses within this industry were forced into closing their doors.

In a study carried out by HRIA, only one-third of its members thought their industry would be back to normal within three years, with the majority suggesting it could take up to five years. They also found that most event companies are seeing only 25% of their cancelled bookings rescheduled due to the attendee limits in place. Many have turned to different industries such as construction where work continues. 

Borders are mostly re-opened now, and hopefully, it won't be long before we are entirely re-open so businesses can return to a form of normality.

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